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HRA Agenda Memo <br /> Page 2 <br /> January 21. 1997 <br /> • Action Reausted <br /> Staff recommends that the HRA approve the attached application form <br /> for participation in the Minnesota City Participation Program, and to <br /> designate the following lenders as eligible to participate in its 1997 <br /> mortgage program: <br /> • First National Mortgage <br /> • Norwest Mortgage, Inc. <br /> • FirstBank, N.A. <br /> • Heigl Mortgage <br /> • TCF Mortgage <br /> • Bank of Elk River <br /> 7. TIF Plan for TIF District No. 16 <br /> Background <br /> The City Council is scheduled to hold a public hearing as required by <br /> state statute for the modification of the development program for <br /> Development District No. 1 and approval of Tax Increment Plan for <br /> Tax Increment District No. 16 on January 27, 1997. Prior to that <br /> public hearing it is appropriate, however, it is not required by state <br /> statute, that the HRA approve the identical plans. The HRA has <br /> discussed the Tax Increment Plan in detail at a previous meeting, but <br /> no formal action was taken. <br /> Attachments <br /> • TIF Plan for TIF District No. 16 <br /> Action Requested <br /> Staff recommends the HRA approve the Modification to the <br /> Development Program for Development District No. 1 and the Tax <br /> Increment Financing Plan for Tax Increment Financing District No. <br /> 16. <br />